Hi Investors
Today TENCENT - the Google of China - reported Q2 figures and took teh complete market by surprise with double digit growth (YOY) and a higher quarterly net profit. The profit arrived at 34 B HKD some 4 billion USD.
The last months a repeated negative stream of reports from western agencies could be observed about the impact of measures taken by the Chines Government towards Tencent and other tech moguls.
In between more and more investor houses pointed out that the decrease in sotck price was too much and increases of 50% could be possible within a year. Same for the stock Prosus traded in Amsterdam which is a listing of a 29% share of Tencent originally done by a South African company Nasper.
Prosus is still trading after Tencent came with figures (HK was already closed) and we see an immediate increase in Prosus of currently some 5% .
I am so glad I made up my own mind once again. The dip made me buy some more options and stock and now I am at break even almost and ready fore a further recovery. Yes there are stocks overvalued that keep rising but I always look for stocks that are clearly undervalued (with normal economics) and take in these.
regards
Goldrooster
